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Dec 31, 2024
Vesta Q4 2024 Earnings Report
Vesta reported strong financial results with significant revenue and NOI growth, supported by leasing activity and strategic acquisitions.
Key Takeaways
Vesta achieved a 16.5% year-over-year increase in revenue, reaching $65.2 million for Q4 2024. Adjusted NOI and EBITDA margins remained high at 93.5% and 82.7%, respectively. Leasing activity was robust, with 1.6 million square feet leased, driving increased occupancy. The company also closed a $545 million syndicated sustainable credit facility to support future growth.
Q4 2024 revenue increased by 16.5% year-over-year to $65.2 million.
Adjusted NOI margin was 93.5%, while EBITDA margin reached 82.7%.
Leased 1.6 million sf in Q4, with total occupancy reaching 93.4%.
Closed a $545 million syndicated sustainable credit facility.
Revenue by Geographic Location
Forward Guidance
Vesta remains focused on growth through new leasing, strategic acquisitions, and development while maintaining high NOI and EBITDA margins.
Positive Outlook
- Strong demand for industrial space driving leasing activity.
- Continued expansion in key Mexican markets.
- New developments will add approximately 2.8 million sf of GLA.
- Strategic land acquisitions support long-term growth.
- Stable financial position with access to $545 million in financing.
Challenges Ahead
- Higher costs impacting NOI margin compared to prior year.
- Potential macroeconomic uncertainties affecting demand.
- Fluctuations in interest rates may impact financing costs.
- Sustainability commitments require continued capital investment.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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